T-Mobile Delivers Record Customer Growth, Fueled By Widening Differentiation and Focus on Durable and Profitable Financial Growth, Raises Guidance Across the Board

Un-carrier Delivers Over 1 Million Postpaid Phone Net Customer Additions, Best Q3 in Over a Decade, Best-Ever Postpaid Net Account and Total Postpaid Net Customer Additions, and Leads the Industry in Postpaid Phone Churn

BELLEVUE, Wash.–(BUSINESS WIRE)–T-Mobile US, Inc. (NASDAQ: TMUS):

Industry-Leading Customer Growth Fueled by Widening Differentiation in Best Network, Best Value and Best Experiences Combination⁽¹⁾

• Total postpaid net customer additions of 2.3 million, best-ever and best in industry
• Postpaid phone net customer additions of 1.0 million, highest Q3 in over a decade and best in industry
• Postpaid net account additions of 396 thousand, up 26% year-over-year, best-ever and best in industry
• Total broadband net customer additions of 560 thousand, up 34% year-over-year, best in industry, including 506 thousand 5G broadband net customer additions, up 22% year-over-year, and 54 thousand fiber net customer additions

Translating Industry-Leading Customer Growth into Durable and Profitable Financial Growth

• Service revenues of $18.2 billion grew 9% year-over-year, best in industry growth
• Postpaid service revenues of $14.9 billion grew 12% year-over-year, best in industry growth
• Strong Net income of $2.7 billion and diluted earnings per share (“EPS”) of $2.41
• Core Adjusted EBITDA⁽²⁾ of $8.7 billion grew 6% year-over-year, best in industry growth
• Net cash provided by operating activities of $7.5 billion grew 21% year-over-year
• Adjusted Free Cash Flow⁽²⁾ of $4.8 billion

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• Recognized by Opensignal as the 5G Global Winner in 5G Coverage Experience and Global Leader in 5G Reliability, including outperforming other US operators; T-Mobile also ranked the #1 FWA carrier for Consistent Quality and Reliability
• Fastest provider in Fixed Wireless Home Internet with median download speeds nearly 50% faster than next closest peer, based on our analysis of Ookla data
• Ongoing momentum in network perception with lots of room to run, with highest ever switching consideration based on overall network quality in Q3 and lots more runway ahead
• iPhone 17 is fastest on T-Mobile’s network with median overall download speeds nearly 90% faster than one benchmark competitor as we continue to expand our network leadership with industry-leading deployment of new technologies (e.g. L4S deployed on all 5G sites with efficient capacity allocation; ~70% of sites supporting 5- and 6- carrier aggregation)

T-Mobile US, Inc. (NASDAQ: TMUS) reported third quarter 2025 results today, delivering industry-leading customer results across the board, in postpaid account nets, total postpaid nets, postpaid phone nets, postpaid phone churn, and broadband net customer additions. The company’s industry-leading customer growth contributed to industry-best service revenue growth, which grew at a rate multiples that of its closest wireless competitors, strong Net income, industry-leading Core Adjusted EBITDA growth, strong net cash provided by operating activities and industry-leading Adjusted Free Cash Flow margin, while fueling stockholder returns of $3.5 billion in Q3.

“Being the CEO of T-Mobile has been the honor of a lifetime. Together this team has done what most thought was impossible, by transforming the Un-carrier from a scrappy challenger into the world’s most successful and customer-centric telecommunications company, going from last to first with the best network, the best value, and the best customer experience in the market,” said Mike Sievert, CEO of T-Mobile. “I’ve never been more confident that the durable, profitable growth engine we’ve built, with so much more room to run — fueled by Srini’s enormous passion and exceptional leadership — will continue to propel T-Mobile forward for years to come. This team has redefined what’s possible in wireless and beyond, and the best is yet to come.”

“It is a privilege for me to lead this incredible team and continue building upon the tremendous Un-carrier legacy that Mike has created. Q3 once again proves that our differentiated strategy is working — more and more consumers recognize our industry-leading network and elevated customer experiences through digital innovation,” said Srini Gopalan, COO and incoming CEO of T-Mobile. “We are even more convicted in our future than ever before, as we continue taking profitable share through wireless, through broadband, and smart adjacencies, investing to defend our network leadership, while further improving network perception, and effecting a digital transformation — all of which will allow the Un-carrier to widen our margin of differentiation.”

Industry-Leading Customer Growth Fueled by Widening Differentiation in Best Network, Best Value and Best Experiences Combination⁽¹⁾

• Total postpaid net customer additions of 2.3 million increased 772 thousand year-over-year.
• Postpaid phone net customer additions of 1.0 million increased 142 thousand year-over-year. Postpaid phone churn of 0.89% increased 3 basis points year-over-year.
• Postpaid net account additions of 396 thousand increased 81 thousand year-over-year.
• Prepaid net customer additions of 43 thousand increased 19 thousand year-over-year. Prepaid churn of 2.77% decreased 1 basis point year-over-year.
• Total broadband net customer additions of 560 thousand increased 142 thousand year-over-year, including 54 thousand fiber net customer additions.
• 5G broadband net customer additions of 506 thousand increased 91 thousand year-over-year. T-Mobile ended the quarter with 8.0 million 5G broadband customers.
• Total net customer additions were 2.4 million and increased 791 thousand year-over-year. Total customer connections increased to a record high of 139.9 million.

Translating Industry-Leading Customer Growth into Durable and Profitable Financial Growth⁽¹⁾

• Total service revenues increased 9% year-over-year to $18.2 billion, and Postpaid service revenues increased 12% year-over-year to $14.9 billion.
• Net income of $2.7 billion included the impact from impairment expense, net of tax, of $208 million.
• Diluted EPS of $2.41 per share included the impact from impairment expense, net of tax, of $0.18 per share.
• Core Adjusted EBITDA increased 6% year-over-year to $8.7 billion.
• Net cash provided by operating activities⁽²⁾ increased 21% year-over-year to $7.5 billion.
• Cash purchases of property and equipment, including capitalized interest increased 35% year-over-year to $2.6 billion, which included the impact from planned higher capital purchases, including for increased greenfield site builds in the second half of the year and incremental capital expenditures following the acquisition of UScellular.
• Adjusted Free Cash Flow of $4.8 billion.
• Stockholder Returns of $3.5 billion in Q3 2025, including common stock repurchases of $2.5 billion and cash dividends of $987 million as part of current stockholder return authorization of up to $14.0 billion, for cumulative stockholder returns⁽³⁾ of $41.8 billion since program inception, split across repurchases of $34.7 billion and cash dividends of $7.0 billion.

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• Recognized by Opensignal as the 5G Global Winner in 5G Coverage Experience and Global Leader in 5G Reliability, including outperforming other US operators; T-Mobile also ranked the #1 FWA carrier for Consistent Quality and Reliability
• Fastest provider in Fixed Wireless Home Internet with median download speeds nearly 50% faster than next closest peer, based on our analysis of Ookla data
• Ongoing momentum in network perception with lots of room to run, with highest ever switching consideration based on overall network quality in Q3 and lots more runway ahead
• iPhone 17 is fastest on T-Mobile’s network with median overall download speeds nearly 90% faster than one benchmark competitor as we continue to expand our network leadership with industry-leading deployment of new technologies (e.g. L4S deployed on all 5G sites with efficient capacity allocation; ~70% of sites supporting 5- and 6- carrier aggregation)

Raising 2025 Customer and Financial Guidance

• Total postpaid net customer additions are expected to be between 7.2 million and 7.4 million, an increase from prior guidance of 6.1 million to 6.4 million, including approximately 3.3 million postpaid phone net customer additions, an increase from prior guidance of 2.95 million to 3.10 million and approximately 130 thousand fiber net customers additions, an increase from prior guidance of 100 thousand.
• Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $33.7 billion and $33.9 billion, an increase from prior guidance of $33.3 billion to $33.7 billion.
• Net cash provided by operating activities, including payments for Sprint merger-related costs and UScellular merger-related costs (“Merger-related costs”), is expected to be between $27.8 billion and $28.0 billion, an increase at the midpoint from prior guidance of $27.1 billion to $27.5 billion.
• Cash purchases of property and equipment, including capitalized interest, are expected to be approximately $10.0 billion, an increase from prior guidance of $500 million.
• Adjusted Free Cash Flow, including payments for Merger-related costs, is expected to be between $17.8 billion and $18.0 billion, an increase at the midpoint from prior guidance of $17.6 billion to $18.0 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.

Financial Results

For more details on T-Mobile’s Q3 2025 financial results, including the Investor Factbook with detailed financial tables, please visit T-Mobile US, Inc.’s Investor Relations website at https://investor.t-mobile.com.

Earnings Call Information

Date/Time

• Thursday, October 23, 2025, at 8:00 a.m. (EDT)

Pre-registration link for dial-in access and personalized PIN

Participants can pre-register for the conference call here in order to receive dial-in information and a personalized PIN. This option is recommended to avoid wait times when joining the call.

Access via Phone (audio only)

Please plan on accessing the call 10 minutes prior to the scheduled start time.

• Toll Free: 1-866-777-2509

• International: 1-412-317-5413

Access via Webcast

The earnings call will be broadcasted live and can be replayed via the Investor Relations website at https://investor.t-mobile.com.

Submit Questions via X

Send a post to @TMobileIR, @MikeSievert, or @SriniGopalan using $TMUS

Contact Information

• Media Relations: [email protected]

• Investor Relations: [email protected]

T-Mobile Social Media

Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (https://investor.t-mobile.com), newsroom website (https://t-mobile.com/news), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD (the @TMobileIR X account (https://x.com/TMobileIR), the @MikeSievert X account (https://x.com/MikeSievert) and our CEO’s LinkedIn account (https://www.linkedin.com/in/sievert), both of which Mr. Sievert also uses as a means for personal communications and observations, the @SriniGopalan X account (https://x.com/SriniGopalan) and our COO’s LinkedIn account (https://www.linkedin.com/in/srini-gopalan/), both of which Mr. Gopalan also uses as a means for personal communications and observations, and the @TMobileCFO X account (https://x.com/tmobilecfo), and our CFO’s LinkedIn account (https://www.linkedin.com/in/peter-osvaldik-3887394), both of which Mr. Osvaldik also uses as a means for personal communication and observations). The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our investor relations website.

About T-Mobile US, Inc.

As the supercharged Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is powered by an award-winning 5G network that connects more people, in more places, than ever before. With T-Mobile’s unique value proposition of best network, best value and best experiences, the Un-carrier is redefining connectivity and fueling competition while continuing to drive the next wave of innovation in wireless and beyond. Headquartered in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information, visit https://www.t-mobile.com.

Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including information concerning T-Mobile US, Inc.’s future results of operations, are forward-looking statements. These forward-looking statements are generally identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions.

Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties and may cause actual results to differ materially from the forward-looking statements. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: competition, industry consolidation and changes in the market for wireless communications services and other forms of connectivity; criminal cyberattacks, disruption, data loss or other security breaches; our inability to timely adopt and effectively deploy network technology developments; our inability to effectively execute our digital transformation and drive customer and employee adoption of emerging technologies; our inability to retain or motivate key personnel, hire qualified personnel or maintain our corporate culture; system failures and business disruptions, allowing for unauthorized use of or interference with our network and other systems; the scarcity and cost of additional wireless spectrum, and regulations relating to spectrum use; the timing and effects of any pending and future acquisition, divestiture, investment, joint venture or merger involving us, including our inability to obtain any required regulatory approval necessary to consummate any such transactions or to achieve the expected benefits of such transactions; adverse economic, political or market conditions in the U.S. and international markets, including changes resulting from increases in inflation or interest rates, tariffs and trade restrictions, supply chain disruptions, fluctuations in global currencies, immigration policies, and impacts of geopolitical instability, such as the Ukraine-Russia and Israel-Hamas wars and further escalations thereof; potential operational delays, higher procurement and operational costs, and regulatory and compliance complexities as result of changes to trade policies, including higher tariffs, restrictions and other economic disincentives to trade; our inability to successfully deliver new products and services; any disruption or failure of our third parties (including key suppliers) to provide products or services for the operation of our business; sociopolitical volatility and polarization and risks related to environmental, social and governance matters; our substantial level of indebtedness and our inability to service our debt obligations in accordance with their terms; changes in the credit market conditions, credit rating downgrades or an inability to access debt markets; our inability to maintain effective internal control over financial reporting; any changes in regulations or in the regulatory framework under which we operate; laws and regulations relating to the handling of privacy, data protection and artificial intelligence; unfavorable outcomes of and increased costs from existing or future regulatory or legal proceedings; difficulties in protecting our intellectual property rights or if we infringe on the intellectual property rights of others; our offering of regulated financial services products and exposure to a wide variety of state and federal regulations; new or amended tax laws or regulations or administrative interpretations and judicial decisions affecting the scope or application of tax laws or regulations; our wireless licenses, including those controlled through leasing agreements, are subject to renewal and may be revoked; our exclusive forum provision as provided in our Certificate of Incorporation; interests of Deutsche Telecom AG (“DT”), our controlling stockholder, which may differ from the interests of other stockholders; our current and future stockholder return programs may not be fully utilized, and our share repurchases and dividend payments pursuant thereto may fail to have the desired impact on stockholder value; future sales of our common stock by DT and SoftBank Group Corp.

Contacts

Media Relations: [email protected]
Investor Relations: [email protected]

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